REBusinessOnline

Granite REIT Acquires 689,400 SF Distribution Center Near Port of Savannah for $47.5M

POOLER, GA. — Granite REIT has acquired a 689,400-square-foot distribution center located at 100 Clyde Alexander Lane in Pooler, adjacent to another industrial park it owns. The Toronto-based company, which is traded on both the Toronto and New York stock exchanges, bought the 100 Clyde Alexander facility for $47.5 million. The property is situated on 48.3 acres about four miles from the gate of the Port of Savannah. The property offers 32-foot clear heights, four drive-in doors and 120 dock …

Greystone Provides $15.4M Fannie Mae Green Acquisition Loan for Multifamily Property in Baton Rouge

BATON ROUGE, LA. — Greystone has a provided a $15.4M Fannie Mae acquisition loan for the purchase of Live Oaks Apartment Homes in Baton Rouge. The loan carries a 12-year term with two years of interest-only payments. The buyer, Cyprus Multifamily, plans to implement upgrades that will improve water and electricity usage as part of the Fannie Mae Green Rewards program. Live Oaks was built in 2001 and offers 184 units with one-, two- and three-bedroom floor plans. Communal amenities include …

Eco Group Breaks Ground on $350M Mosaic Development Near Raleigh-Durham

PITTSBORO, N.C. — Eco Group, a joint venture between Kirk Bradley of Lee-Moore Capital Co. and John Fugo of Montgomery Carolina LLC, has broken ground on Mosaic, a $350 million mixed-use development spanning 136 acres and located 30 miles southwest of Raleigh-Durham. Phase I of Mosaic will include developing 44 acres at the cost of $180 million and is expected to be complete in 2023, although Eco Group plans to open Mosaic to the public in 2020. Town Hall Burger & Beer, People’s Coffee, …

QTS Realty to Expand Data Center Near Downtown Atlanta

ATLANTA — QTS Realty Trust has begun its data center expansion in Atlanta’s Knight Park/Howell Station neighborhood. The expansion will span 250,000 square feet and be located adjacent to QTS’ existing data center at 1033 Jefferson St. NW, four miles from downtown Atlanta. QTS plans to deliver Phase I of the expansion in mid-2020. QTS has signed a lease with an undisclosed anchor tenant that will consume 12 megawatts of power as part of its lease terms The existing building comprises …

Magnus Development Breaks Ground on 180,000 SF Building Within Lexington County Industrial Park in Columbia

COLUMBIA, S.C. — Magnus Development Group has broken ground on Midway Logistics V, a 180,000-square-foot industrial building within Lexington County Industrial Park (LCIP) in Columbia. Kardex Remstar, a Swiss automated storage and retrieval solutions supplier, will fully occupy the building upon completion, which is slated for second quarter 2020. The new property will include 50-foot bay spacing, energy-efficient LED motion detection lighting, a 60-millimeter TPO roof, eight dock doors, 20 …

Berkadia Negotiates Sales of Multifamily Properties in Metro Atlanta Totaling $80M

ATLANTA — Berkadia has negotiated two sales of four multifamily properties in metro Atlanta totaling $80 million. In the first sale, Matt White, Paul Vetter, Andrew Mays and Judy MacManus of Berkadia arranged the combined $36 million sales of Pines at Greenbriar and Mountain Oaks on behalf of the seller, a joint venture between Adams Investor and Crown Bay Group. Pines at Greenbriar sold to Olive Tree Holdings and Mountain Oaks sold to Highland Properties Group. Pines at Greenbriar is …

JLL Arranges $58.9M Sale of Multifamily Community in Metro D.C.

HYATTSVILLE, MD. — JLL has arranged the $58.9 million sale of Palette at Arts District, a 243-unit multifamily community in Hyattsville’s Arts District. The property offers studio, one- and two-bedroom floor plans averaging 870 square feet. The community also offers 4,700 square feet of ground-level retail space as well as communal amenities such as a pool, courtyard, grilling area, dog park, clubroom with pool table, cybercafé, coffee bar, fitness center and a conference room. Palette at …

Walker & Dunlop Provides $225.1M Fannie Mae Acquisition Loan for Multifamily Portfolio in Virginia

BETHESDA, MD. — Bethesda-based Walker & Dunlop has provided a $225.1 million Fannie Mae acquisition loan for a five-property multifamily portfolio on behalf of Capital Square 1031. Walker & Dunlop provided a $66 million loan for 2000 West Creek in Richmond, a $29.7 million loan for Hickory Creek Apartments in Richmond, a $31.6 million loan for Saltmeadow Bay Apartments in Virginia Beach, a $52.5 million loan for Misty Ridge Apartments in Woodbridge and a $45.3 million loan for …

Brookview Realty Purchases Apartment Complex in Louisville for $38M

LOUISVILLE, KY. — Brookview Realty Group has purchased Echelon at Middletown, a 210-unit, garden-style apartment complex in Louisville’s Middletown neighborhood, for $38 million. The property offers one-, two- and three-bedroom floor plans averaging 1,080 square feet. Community amenities include a swimming pool, spa, 24-hour fitness center with a yoga studio, pet park, internet café and a business center. The community is located at 400 Echelon Way, 17 miles east of downtown Louisville. …

Phillips Edison Sells 124,268 SF Shopping Center Near Daytona Beach

PORT ORANGE, FLA. — Phillips Edison & Co. Inc. has sold Countryside Shopping Center, a 124,268-square-foot retail center in Port Orange. An affiliate of Atlanta-based Vanguard Associates Inc. acquired the property for an undisclosed price. Sav-a-Lot and Big Lots anchor the 96 percent-leased center. Other tenants at the time of sale included Halifax Health, Wells Fargo, Cici’s Pizza, Workout Anytime and H&R Block. The center is located at 3840 S. Nova Road, seven miles south of …

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